On November 16, 2022, Western Magnesium Corporation closed the transaction. The completion of the private placement and payment of any commission and fees remain subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued will be subject to a statutory hold period in Canada for a period of four months and one day from the closing date.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 1 placee.